The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1161 on Monday, 35 pips stronger than the 6.1196 fixing last Friday, according to the China Foreign Exchange Trade System. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi settled at 6.0713 on Friday after trading between 6.0707 and 6.0764 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.77 percent this year, central bank data shows.
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